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2015 (7) TMI 402 - AT - Income TaxPenalty u/s. 271(1)(c) - disallowance made u/s. 40(a)(ia) - CIT(A) deleted the levy - Held that:- The conduct of the assessee speaks for itself. We, therefore, set aside the findings of the Ld. CIT(A) and uphold the levy of penalty u/s. 271(1)(c) of the Act in so far as it relates to the claim of capital expenditure as revenue expenditure. Since the levy of penalty is deleted in respect of disallowance made u/s. 40(a)(ia) of the Act, we restore this issue to the file of the AO with a direction to recompute the penalty in respect of the claim of capital expenditure as revenue expenditure. - Decided partly in favour of assessee Addition on account of under statement (unbilled) of Revenue - CIT(A) deleted the levy - Held that:- - CIT(A) deleted the levy - Held that:- pears that the First Appellate authority has been simply carried away by the submissions made by the assessee that the issue is covered by the earlier order of the Tribunal. It is clear that the Ld. CIT(A) has decided the issue in favour of the assessee without understanding the facts of the case and without comparing it with the facts of the earlier assessment year. This make the order of the Ld. CIT(A) erroneous. In the interest of justice and fair play, we restore this issue to the file of the Ld. CIT(A) to be decided afresh - Decided in favour of assessee for statistical purpose.
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